McMoRan Exploration Co. Declares Quarterly Cash Dividend on Convertible Preferred Stock.NEW ORLEANS -- McMoRan Exploration Co. today declares, for the period from July 1, 2006 through September 30, 2006, a cash dividend of $0.3125 per share payable on September 30, 2006 to holders of record as of September 15, 2006 for its 5% convertible preferred stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : MMREP). McMoRan Exploration Co. is an independent public company engaged in the exploration, development and production of oil and natural gas offshore in the Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east and onshore in the Gulf Coast area. McMoRan is also pursuing plans for the development of the Main Pass Energy Hub(TM) which will be used for the receipt and processing of liquefied natural gas liquefied natural gas: see under natural gas. Liquefied natural gas (LNG) A product of natural gas which consists primarily of methane. Its properties are those of liquid methane, slightly modified by minor constituents. and the storage and distribution of natural gas. Additional information about McMoRan and the Main Pass Energy Hub(TM) project is available on its internet websites "www.mcmoran.com" and "www.mpeh.com". |
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